Digital Marketing Analytics: Making Sense of Consumer Data in a Digital World, Second edition

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Launching a New Product

Launching a new product or service is a significant undertaking for any company, even for the big brands like P&G and Coca-Cola. In most cases, the market, regardless of category, is saturated, and consumers are creatures of habit. According to strategic brand positioning expert and consultant Jack Trout, consumers repeatedly buy the same 150 items, which constitute as much as 85% of their household needs. In addition, only 3% of new consumer packaged goods meet or exceed their first-year sales goals. Thanks largely to the shifting dynamic from B2C to C2B, the opportunity of the role of digital analytics has expanded to support these significant investments. When applied intelligently, digital analytics can inform ...